The strategic hire will leverage Wenzel's extensive experience in an online business environment in order to support and direct the continued growth that Moneybookers is experiencing in the e-commerce sector.

"Ralf brings invaluable experience in international sales, business development and account management," comments Martin Ott, Managing Director of Moneybookers. "Having worked with him at Jamster I have no doubt that he'll be a major asset to our business and will play a pivotal role in realising our vision for Moneybookers."

As Vice President Sales, Wenzel will head up global e-commerce sales at Moneybookers. The company, which provides domestic payment options in over 35 countries and for more than 7,000 online merchants, experienced record growth in 2007 - primarily driven by new e-commerce merchant integrations. Wenzel will utilise his experience in e-commerce to support and drive continued growth and secure global brands.

"Payments are rapidly changing with the growth in e-commerce and Moneybookers is very well positioned to capture a significant slice of the market," comments Wenzel. "I'm very excited to be a part of this evolution and look forward to helping make Moneybookers a household name for online payments."

While online retailers are continuing to experience strong annual revenue growth of around 20% and shoppers are increasingly using price comparison sites to find the best possible prices from a much wider variety of merchants, ongoing security reports have dented consumer trust. Shoppers are becoming increasingly nervous about giving out personal information, such as credit card details, to online merchants. Moneybookers' payment system helps increase conversion rates for online retailers by removing the need for shoppers to give out personal information and by providing an unrivalled network of domestic payment options.

Prior to joining Moneybookers, Ralf was Senior Vice President Sales at Jamster (a News Corp/Verisign company) where he was responsible for all global sales, business development and account management initiatives. Key achievements included signing major deals with global brands such as MTV, Vodafone and Nokia. Previously, Ralf worked in Sales at Daimler Chrysler/Mercedes Benz in Latin America. Ralf holds a graduate degree in Information Technology and graduated with highest honours from Berlin University.